Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1887-02-24
TIE VIRGINIA FREE pREss--rHE OLD FAMILY JOURNAL.
Ttrainia Deferred Certificates.

Last week the holders of eight millions
of the so-called West Virginia Certificates
made the following proposition to the Leg
islature of West Virginia, and it was refer
red to the Finance Committee of each
house:
As committee duly authorized to repre-
sent the holders of over eight million OF
what is commonly known as Virginia defer
red certificates, we respectfully beg that you
will place before your Honorable body, In
such a way as may seem to you right and
proper the following facts and proposition:
First That Virginia arbitrarily assumed
that West Virginia should pay one-thlrd OF
the debt of the old undivided State. Where
a.. West Virginia did net recognize any
obligation to pay an amount in excess Of
such sums Is might be ascertained to be
due by stating the account in accordance
with the terms of the Wheeling ordinance.
Second. That under the circumstances
and i'm order that some settlement might be
arrived at it was deemed best by the holders
of the certificates, TO pool their holdings
and place their interest in the hands OF
committee.
Third. That under the funding Act Of
1871. the State of Virginia issued about
twelve million of what is known as defer
red certificates bearing per cent. interest
from July lst 1871, to represent portion
of the debt assumed to be due by West Vir-
ginia. against which in accordance with the
Act. Virginia holds in trust her uucancell-
ed bonds, Against the certificates issued
under the two subsequent Acts no bonds are
held
Fourth. That, there is now deposited
at the Farmers Loan d Trust Co., of New
York. over eight million of the certificates
issued under the Act Of 1871, out of about
nine million issued TO the creditors OF Nir-
ginia. The State Of Virginia herself hold
inc about three millions in her sinking fund
&c.
Fifth. Six thousand pamphlets contain
inc a SYNOPSIS of the agreement under
which these certificates are deposited with
the Trust Company, have been distributed
i'm this country and throughout Europe.
Sixth Being duly authorized by the
committee, We beg to make the following
proposition:
That we will deliver to the State of West
Virginil, eight million Of the certificates
issued under the Act of 1871, in exchange
for her bonds of such date Of maturity as
she may elect, for such an amount together
with interest thereon to the date of the pro-
posed settlement, rs was reported by her
duly appointed commissioners in the year
1871 to be due by West Virginia, which re-
port we are advised was duly received and
ratified by that legislature
Seventh. That should your honorable
body deem it wise to accept this very liber-
al proposition, prompt action should be Ia
ken for the reason that under the agreement
any certificate may be withdrawn after the
first of April, 1887.
Very Respectfully,
J. c. MABEM,
L. :. JENSEN,
Committee for Certificate Holders.
CHARLESTON, w. VA, Feby., Is, 1887.
The Chinese say large nose indicates
shrewdness, but We say a red nose and a
barking cough indicates the need of a bot
tie of DR.. Bulls Cough Syrup.
Every recommendation of DR.. Seth Ar.
noId's Cough Killer is warranted genuine,
aud One Thousand Dollars will be paid by
the proprietors Of this remedy to any per-
son, who, upon investigation, finds this
statement to be untrue. For sale by all
druggists. Price 2jc 50c and 500 per
bottle.
DIR. seth Arnold's Soothing and Quieting
Cordial for children Recommended by
mothers and nurses. 2jc.
We have it from am authentic source, and
give it as am item of interest to many readers of
Tur FREE Press, that Miss - Young-daugh-
ter of Maj. D. J. Young, formerly Of Harper's
Ferry, for years past stationed at Wateryliet
Arsenal West Troy, y. will be married on
the 18th Of April The groom-elect is Lieut.
f. Y. Smith, native of Missouri, who gradu-
atel az West Point in June last. His present
station Is Fort MisSoula, Montana-over $500
miles from here. This scion of the family that
Pocahontas saved is entitled to congratulations
upon his prospective union with this pretty,
loycable, accomplished young lady-natiye of
this beautiful valley. The Aray and Nary
Jo,1Dg' of the 10th makes the following men
ton:
The engagement is announced of Lieuten-
ant Z. Y. Smith 5rj [ ;. Infantry, 10 Miss
Young. daughter of Mai. d. J. Young, L. ). 4.
of Wateryleit Arsenal and sister of Lieut. G. 5.
Young. The wedding will take place shortly
after Easter
=